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Online transactions popular among youth: PayFort

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75% of online purchasers are in their 30s or younger

Electronics, air tickets and entertainment dominate online purchases (Photo Courtesy of PayFort)

Electronics, air tickets and entertainment dominate online purchases
(Photo Courtesy of PayFort)

A June report by online payment gateway company PayFort has found that 75% of online transactions are made by consumers in their thirties or younger.

Of the 3.5mn transactions made online in Egypt, 70% are made by men, with only 30% made by women.

“Egyptians in this age group are frequent transactors in airline bookings, travel, e-commerce, and digital goods that represent 40% of overall transactions,” said the report, State of Payments in the Arab World.

The report highlighted that 99% of the online transactions are made by Egyptians while the remaining 1% are made by foreign nationalities. More than half of online purchasers reside in Cairo while the Delta, Upper Egypt and Alexandria comprise the remaining 43%.

The report also said that 40% of expenditure is on electronics, airline tickets and clothing.

“Hotel reservations only make up 6% of total online transactions, while books are higher than the regional average with 8% of total online transactions,” the report added.

In April, a study conducted by MasterCard showed Egyptian’s online shopping rates are rising steadily, with 44% of the study’s respondents stating that they have used internet to shop. The study added that 80% of the respondents are satisfied with their online shopping experience.

The report said that Egyptian are challenged when it comes to online payments with only 7% of the population being banked and 8m credit and debit cards issued.

“Egyptian users are challenged when it comes to online payments with over 65% relying on alternative payment methods such as pre-paid cards and bill presentation services and a 80% cash-on-delivery to 20% online credit card ration,” the report said

The report showed that 80% of the Egyptian Smartphone users make mobile purchases at least once per month.


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